Baker McKenzie has successfully acted for 7-Eleven International LLC, and its Tokyo listed parent Seven & i Holdings, which announced the successful completion of its acquisition of 7-Eleven Australia's convenience stores business. The two companies agreed to the AUD 1.71 billion deal in November 2023. 7-Eleven International now adds more than 750 stores in Australia to its portfolio.
Baker McKenzie's lead partner, Andrea Kennedy stated: "It was great to work with 7-Eleven International and its group companies to bring this transaction to completion. By undertaking this strategic transaction, 7-Eleven International furthers Seven & i Holdings' commitment to global growth and enhancing the 7-Eleven brand."
When asked about the transaction process, Andrea said, "The sale comes after a rather protracted process, which started back in July 2022, and ultimately involved a lengthy competitive sale process. For nearly 50 years, 7-Eleven Australia had built a desirable brand in the convenience store category in Australia, which achieved significant interest. We are very happy that our exceptional Australian team, with the assistance of our Japanese office, was able to assist 7-Eleven International to succeed in the competitive process and now complete this significant acquisition."
The deal was led by Andrea Kennedy and Kate Jefferson, with support from Sabrina Rodrigues, Penny Ward, Lizzie Lu, Po Tsai, Anna Vella, Samuel Allam, Tanja Mikulic, Trudi Procter, Lynsey Edgar, Jeremy Hardy, Dora Stilianos, Josh Baldacchino, Kellie-Anne McDade, Sabine Johnson, Peter Lucarelli, Alex Hewitt, Dean Bao, Liam O'Callaghan, Toby Patten, Rick Troiano, John Coleman, John Walker and Erica Kidston.